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Pricing U.S. North Atlantic bluefin tuna and implications for management

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Author Info

  • Michael T. Carroll

    (Stop and Shop Supermarket Co., P.O. Box 1942, Boston, MA 02105)

  • James L. Anderson

    (Department of Environmental and Natural Resource Economics, University of Rhode Island, Kingston, RI 02881-0814)

  • Josué Mart�nez-Garmendia

    (J.L. Anderson Associates, Inc., P.O. Box 564, Narragansett, RI 02882)

Abstract

Bluefin tuna is regarded as a high-quality product in the Japanese market and is characterized by an unusual marketing system by seafood industry standards. Each fish is individually inspected for various quality attributes before being flown to Japan for the fresh tuna market. The first objective of this study is to formally evaluate the degree to which the price of U.S. fresh bluefin tuna is determined by quality attributes of each fish, rather than by just the quantity supplied. This is accomplished using a Hedonic model. The results support the hypothesis that the fresh bluefin tuna price is, in fact, significantly influenced by the quality attributes of the fish, including the freshness, fat content, color, and shape. Interesting implications for public management of this highly valued resource arise from the results. [Econ-Lit citation: L150, L190, L660] © 2001 John Wiley & Sons, Inc.

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File URL: http://hdl.handle.net/10.1002/agr.1014
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Bibliographic Info

Article provided by John Wiley & Sons, Ltd. in its journal Agribusiness.

Volume (Year): 17 (2001)
Issue (Month): 2 ()
Pages: 243-254

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Handle: RePEc:wly:agribz:v:17:y:2001:i:2:p:243-254

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Web page: http://onlinelibrary.wiley.com/journal/10.1002/(ISSN)1520-6297

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  1. Bierlen, Ralph W. & Grunewald, Orlen C., 1995. "Price Incentives For Commercial Fresh Tomatoes," Journal of Agricultural and Applied Economics, Southern Agricultural Economics Association, vol. 27(01), July.
  2. Chikako Kajikawa, 1998. "Quality level and price in Japanese apple market," Agribusiness, John Wiley & Sons, Ltd., vol. 14(3), pages 227-234.
  3. Edward Shinnick, 1997. "Measuring Irish housing quality," Journal of Economic Studies, Emerald Group Publishing, vol. 24(1/2), pages 95-119, January.
  4. Gilbert Sylvia & Sherry L. Larkin, 1995. "Firm-level Intermediate Demand for Pacific Whiting Products: A Multi-attribute, Multi-sector Analysis," Canadian Journal of Agricultural Economics/Revue canadienne d'agroeconomie, Canadian Agricultural Economics Society/Societe canadienne d'agroeconomie, vol. 43(3), pages 501-518, November.
  5. Steven Buccola & Yoko Iizuka, 1997. "Hedonic Cost Models and the Pricing of Milk Components," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 79(2), pages 452-462.
  6. Hoesli, Martin & Giaccotto, Carmelo & Favarger, Philippe, 1997. "Three New Real Estate Price Indices for Geneva, Switzerland," The Journal of Real Estate Finance and Economics, Springer, vol. 15(1), pages 93-109, July.
  7. Cropper, Maureen L & Deck, Leland B & McConnell, Kenneth E, 1988. "On the Choice of Functional Form for Hedonic Price Functions," The Review of Economics and Statistics, MIT Press, vol. 70(4), pages 668-75, November.
  8. Chang, Hui-Shung, 1995. "Examining hard coking coal price differentials A hedonic pricing approach," Resources Policy, Elsevier, vol. 21(4), pages 275-282, December.
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Cited by:
  1. Sherry Larkin & Gil Sylvia, 2004. "Generating Enhanced Fishery Rents by Internalizing Product Quality Characteristics," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 28(1), pages 101-122, May.
  2. Hallstein, Eric & Villas-Boas, Sofia B., 2013. "Can household consumers save the wild fish? Lessons from a sustainable seafood advisory," Journal of Environmental Economics and Management, Elsevier, vol. 66(1), pages 52-71.
  3. Ochieng', Otieno Geoffrey, 2010. "Effect of Value Addition on Price: A Hedonic Analysis of Peanut in Retail Supermarkets in Nairobi, Kenya," Research Theses 134495, Collaborative Masters Program in Agricultural and Applied Economics.
  4. Martínez-Garmendia, Josué, 2010. "Application of hedonic price modeling to consumer packaged goods using store scanner data," Journal of Business Research, Elsevier, vol. 63(7), pages 690-696, July.

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